Policies and Programs
Meralco upholds the highest standards of corporate governance through issuance of various company policies and governance programs that are aligned with the Company’s vision, mission, overall strategic directions, corporate objectives, and long-term goals. The Company believes that well-defined policies should cascade governance principles to business operations and processes to strengthen the brand of service excellence and ethical culture of its directors, officers, and employees of the Company.
Guided by the governance principles of Fairness, Accountability, Integrity, Transparency and Honesty (FAITH), the Company has defined its governance framework through policies that promote best corporate governance practices from the top management down to the ranks in a manner that suits the distinct Meralco business environment. “Be Right” was introduced as the Company’s governance slogan to remind the directors, management, and employees to BEhave RIGHT, observe the existing policies of the Company and report those who violate the same.
Pursuant to the SEC Memorandum Circular No. 19, Series of 2016, otherwise known as the “Code of Corporate Governance for Publicly Listed Companies,” the Board adopted in 2017 a Manual of Corporate Governance (“CG Manual”) which provides the framework of good governance and ethical business practices that the Company’s directors, officers, and employees are expected to observe and adhere to in dealing with various stakeholders. Management in turn, ensures that the operations of the Company are aligned with the CG Manual.
The CG Manual conforms to regulations set forth by the SEC, the PSE, PDEx, and other relevant regulatory bodies and is reviewed annually to ensure that it is up to date with local and international best practices, and in keeping with the Company's strategic direction. The CG Manual was last amended by the Board on July 25, 2022.
Specific documents like the Code of Ethics, Code of Employee Discipline, Safety Code, Policy on Subsidiary Management, Policy on Conflict of Interest and Guidelines on Board Committees, among others, were also developed and are being implemented in support of the principles embodied in the Revised Manual of Corporate Governance. The policies, rules and principles contained herein are built on Meralco's own standards and experience while respecting the benchmarks set in the SEC.
These policies are available at the Corporate Governance HR Express Portal of Meralco and copies of the Corporate Governance Handbook, which compiles the above-mentioned policies, were distributed to all offices.
As the corporate governance landscape changes, new policies are developed and existing ones are constantly being reviewed and improved.
